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What Detroit crisis? Pension fund trustees hang out in Hawaii
Reuters ^ | 5-25-13 | Malia Mattoch McManus

Posted on 05/25/2013 10:07:47 AM PDT by dynachrome

The city of Detroit may be facing a deepening financial crisis but that hasn't stopped four trustees of its public pension funds from spending $22,000 of retirement system funds to attend a conference in Hawaii this week.

One well-attended session covered how to avoid front-page scandals. According to presenter Lydia Lee, a pension attorney from Oklahoma, the session touched on a topic familiar back in Detroit: The indictment this spring of two former city pension officials for an alleged $200 million bribery and kickback scheme, in a case that will come to trial next March.

(Excerpt) Read more at reuters.com ...


TOPICS: Crime/Corruption; Government; News/Current Events; US: Michigan
KEYWORDS: bankrupt; corrutption; detroit; pension; pensions; public; unions
I'm sure they learned a lot while there. No play time at all, I'm sure/s
1 posted on 05/25/2013 10:07:47 AM PDT by dynachrome
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To: dynachrome

The mayor, the city council, and this emergency ‘czar’ of Detroit....have no control over the pension fund trustees. I was watching an interview where this was all explained. These trustees need to be removed, and based on the union business, and local political games....it’s virtually impossible. It’s pretty screwed up.

But on the positive side...Hawaii made $22k off the dimwits, and that helps Hawaii a little bit.


2 posted on 05/25/2013 10:10:01 AM PDT by pepsionice
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To: Springman; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; madison10; ...
Sunlight makes some fine disinfectant.

 photo MIPing_zps6ed55a1c.jpg

Michigan legislative action thread
3 posted on 05/25/2013 10:11:09 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: dynachrome

Another socialist success story!

Pray for America to Wake up


4 posted on 05/25/2013 10:13:06 AM PDT by bray (Surviving to spite Obama)
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To: pepsionice
But on the positive side...Hawaii made $22k off the dimwits, and that helps Hawaii a little bit.

My grandfather always told me to never hang around with negative people and always think positive.

He would have liked you........

5 posted on 05/25/2013 11:28:42 AM PDT by Hot Tabasco (This space for rent)
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